Signet Jewelers Holiday Season Same Store Sales Increase 7.8%,
Led By Signet's US Division Up 9.2%
Guides to EPS Increase of 58% - 60% for Fiscal 2012

HAMILTON, Bermuda, January 10, 2012 -Signet Jewelers Ltd ("Signet") (NYSE and LSE: SIG),
the largest specialty retail jeweler in the US and the UK, today announced its sales for the nine weeks ended December 31, 2011 ("Holiday Season") and expectations for the year ending January 28, 2012 ("Fiscal 2012").


Same Store Sales

to December 31, 2011


9 weeks

48 weeks

· Signet Jewelers

up 7.8%

up 9.4%

· US division

up 9.2%

up 11.6%

· UK division

up 1.8%

up 0.8%

Expectations for Fiscal 2012

· Income before income taxes: $494 million - $501 million

· up 64% - 67%

· up 42% - 44% excluding non-recurring item in Fiscal 20111

· Diluted earnings per share: $3.67 - $3.72

· up 58% - 60%

· up 38% - 40% excluding non-recurring item in Fiscal 20111

· Free cash flow2$230 million - $240 million

Quarterly Dividend

· The Board has declared a quarterly dividend of $0.10 per share

Mike Barnes, Chief Executive Officer, commented: "We are pleased with our Holiday Season performance, with same store sales up 7.8%. We believe our strong performance in both the US and the UK for the Holiday Season and year to date is due to the exceptional execution by our teams in both divisions. I would like to thank them all very much for their dedication and hard work.

Our performance is built on the long term competitive strengths of the business, including the great customer experience which our teams deliver, the strength of our merchandise, our continued investment in advertising to support our store concepts and merchandising initiatives, and our US customer finance programs, which are highly effective in supporting our customers' jewelry purchases.

We believe that Signet is well positioned for Fiscal 2013 and we will remain focused on providing our customers with an outstanding experience and investing in the business to further our competitive strengths, in order to continue to create shareholder value."

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1. Non-GAAP measure, excludes a make whole payment arising from prepayment of private placement notes on November 26, 2010 of $47.5 million, $29.5 million net of taxes and $0.34 per share ("the 'Make Whole' payment"); see Note 1.

2. Non-GAAP measure, net cash flows provided by operating activities less cash flows used in investing activities.



Conference Call

There will be a conference call today at 8.30 a.m. ET (1.30 p.m. GMT and 5.30 a.m. PT) and a simultaneous audio webcast and slide presentation available at www.signetjewelers.com.The slides are available to be downloaded from the website ahead of the conference call. To help ensure the conference call begins in a timely manner, all participants should dial in 5 to 10 minutes prior to the scheduled start time. The call details are:

US dial-in

+1 (212) 444 0481

Access code: 5829246

European dial-in

+44 (0)20 7784 1036

Access code: 5829246

A replay of the conference call and a transcript of the call will be posted on Signet's website as soon as
is practical after the call has ended and will be available for one year.

FiSCAL 2012 guidance

For Fiscal 2012, income before income taxes is anticipated to be between $494 million and $501 million, up 64% to 67% (year ended January 29, 2011 ("Fiscal 2011"): $300.4 million). Diluted earnings per share are expected to be between $3.67 and $3.72, an increase of 58% to 60% (Fiscal 2011: $2.32). Fiscal 2011 included a 'Make Whole' payment arising from the prepayment in full of private placement notes on November 26, 2010, which amounted to $47.5 million, $29.5 million net of taxes and $0.34 per share; excluding this item, income before income taxes is expected to be up 42% to 44%, with diluted earnings per share expected to be up 38% to 40%; non-GAAP measures, see Note 1.

Management's financial objectives for Fiscal 2012 as set out in Signet's Form 10-K for Fiscal 2011 and the anticipated performance in Fiscal 2012 are set out below:

· Improve gross margin ratio.